*Former NFL star Ray Lewis has reached a settlement in the $1.7 million dollar lawsuit he filed against his longtime friend & former lawyer, Marc Rosen, theJasmineBRAND.com exclusively reports. Lewis alleges Rosen screwed him out of millions by having him invest in risky ventures.
Lewis explained in his lawsuit that he worked with Rosen for several years on various matters. In 2008, his lawyer convinced him that it would be a lucrative business move to lend his name and likeness to an entertainment complex he was working on called MVP Entertainment. Rosen explained that none of Ray’s own money would be used to invest, but in 2010, Lewis unknowingly signed a series of loan documents, one for 1.5 million and another for 2.5 million.
The ex-NFL star said he learned about the loans in 2011, when Rosen approached him for an additional 200k to fund his business venture. Lewis agreed to obtain another bank loan for 200k for a grand total of 1.7 million that his lawyer promised to pay him back.
When the business venture failed to launch, Ray was on the hook for the 1.7 million dollar loan. He filed suit against his ex-lawyer for malpractice, breach of contract and Fraud. He demanded Rosen pay him back the 1.7 million + damages for his actions.
Rosen fired back at the lawsuit, claiming that he was never Ray’s full-time lawyer, rather his “business partner”.
On April 27th, docs were filed in the case explaining that Lewis and Rosen had reached a settlement in the 1.7 million dollar legal battle. Per the deal, all claims against the other will be dismissed and the case will be closed. The terms of the settlement will remain confidential.